NZ Dollar Resumes Rally After Drop on Thursday

The New Zealand dollar fell on Thursday after four consecutive days of gains but resumed the rally on Friday thanks to the positive report released overnight.

Business NZ released its Performance of Manufacturing Index as of 21:30 on Thursday. The index showed an increase from 57.3 to 57.7 in November. The reading above 50.0 indicates an expansion of the sector, and the index stayed above that level since October 2012.

NZD/USD advanced from 0.6981 to 0.7006 as of 15:59 GMT today, reaching the high of 0.7032 intraday. NZD/JPY gained from 78.46 to 78.91.

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